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Beyond Meat (BYND) Gains As Market Dips: What You Should Know

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Beyond Meat (BYND - Free Report) closed at $155.26 in the latest trading session, marking a +0.22% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.49%. Elsewhere, the Dow lost 0.59%, while the tech-heavy Nasdaq lost 0.8%.

Heading into today, shares of the plant-based meat company had gained 2.6% over the past month, outpacing the Consumer Staples sector's gain of 0.57% and lagging the S&P 500's gain of 3% in that time.

Investors will be hoping for strength from BYND as it approaches its next earnings release.

Investors should also note any recent changes to analyst estimates for BYND. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. BYND is currently sporting a Zacks Rank of #2 (Buy).

The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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